The Relationship Between Renewable Energy Consumption, Unemployment, and Inflation in Greece
ICOAEF-XVI International Conference on Applied Economics and Finance, Thessaloniki, Yunanistan, 9 - 10 Haziran 2026, ss.289-298, (Tam Metin Bildiri)
- Yayın Türü: Bildiri / Tam Metin Bildiri
- Basıldığı Şehir: Thessaloniki
- Basıldığı Ülke: Yunanistan
- Sayfa Sayıları: ss.289-298
- Açık Arşiv Koleksiyonu: AVESİS Açık Erişim Koleksiyonu
- Anadolu Üniversitesi Adresli: Evet
Özet
In recent years, growing global concerns about climate change, environmental degradation, and the depletion of fossil fuel resources have prompted countries to shift their focus to renewable energy sources. During this process, investments in renewable energy have gained importance not only in terms of environmental sustainability but also in terms of macroeconomic indicators such as economic growth, employment, and price stability. Green transition policies, particularly those implemented in Europe, have made the impact of the energy sector on the economic structure more visible. Greece, a member of the European Union, is prioritizing renewable energy policies to reduce energy dependence, lower carbon emissions, and support sustainable growth. Energy investments have become a key policy tool during the country's economic recovery, particularly after the 2008 crisis. This study investigates the relationship between energy consumption, unemployment, and inflation in Greece. For this purpose, annual time series data from 1981 to 2024 are examined using econometric methods based on the Fourier approximation, which accounts for both sharp and smooth structural breaks. The Fourier ADF unit root test results show that all three variables become stationary after first differencing, indicating the presence of a unit root at the level. Findings from the Fourier ADL cointegration test reveal that macroeconomic indicators influence renewable energy. Accordingly, a one-unit increase in renewable energy consumption increases the unemployment rate by 0.28 units, while a one-unit increase in inflation decreases the unemployment rate by 0.37 units; meanwhile, a one-unit increase in renewable energy consumption decreases inflation by 0.83 units, while a one-unit increase in the unemployment rate decreases inflation by 0.35 units. On the other hand, inflation and unemployment are found to have no statistically significant impact on renewable energy consumption. In conclusion, increased investment in renewable energy leads to higher unemployment while contributing to lower inflation. Therefore, it is important for policymakers to support the green transition with active labor market policies and reskilling programs to minimize job losses.